China’s steel industry prepares for restructuring

Sometimes it’s hard to tell if things reported in the Chinese media actually mean anything or whether they’re just posturing. However, a number of people have said that the Chinese Steel industry is going to restructure, willingly or not, in the next 5 years.

People’s Daily Online
Industry leaders who have attended the fourth China International Steel Congress in Beijing early this week predict that a wave of merges and acquisitions is set to sweep China’s steel industry.
‘China’s steel industry will see large-scale restructuring in line with changing international environment and intensified competition,’ said Xu Lejiang, general manager of Shanghai Baosteel Group Corp.

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